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CBK Allows Access Bank To Take Over 100% Of Transnational Bank

BY Juma · January 18, 2020 08:01 am

The Central Bank of Kenya (CBK) has given a go-ahead to top Nigerian Access Bank to acquire 100 percent of Kenya’s Transactional Bank linked to former President Daniel Moi.

In a statement on Friday, CBK Governor Patrick Njoroge announced that he had given a greenlight for the acquisition of Transnational Bank by Access bank.

Late 2019, the Competition Authority of Kenya had endorsed the deal where Access Bank was to take over 100 percent of shareholding in Transnational Bank.

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“The Cabinet Secretary for National Treasury and Planning has also approved the acquisition of up to 100 percent of the issued share capital of Transnational Bank plc by Access Bank plc,” said the CBK Governor.

Here is the statement from CBK:

 

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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